Canarie AI

Exam Preparation

Third Party Risk Exam Preparation for BaaS Platforms

Third-party risk examinations evaluate your vendor management program, from due diligence to ongoing monitoring to exit strategies. Canarie helps you maintain evidence of systematic vendor oversight throughout the vendor lifecycle. Specifically tailored for the unique examination requirements facing baas platforms.

More for BaaS Platforms

BaaS Platforms Exam Preparation Challenges

Oversight of multiple fintech partners
Demonstrating partner compliance to examiners
Scaling oversight with partner growth
Managing third-party risk at scale
Consistent compliance standards

Examining Agencies

OCCFDICFederal ReserveCFPB

Exam Frequency

As part of safety and soundness or targeted examination

Preparation Steps for BaaS Platforms

1
Update vendor risk assessment
2
Compile due diligence documentation
3
Document ongoing monitoring activities
4
Gather contract management evidence
5
Prepare incident and issue tracking
6
Document board oversight of critical vendors
7
Compile exit strategy documentation

Evidence Examiners Expect

Vendor risk management policy
Vendor risk assessments and tiering
Due diligence documentation
Ongoing monitoring records
Contract inventory and reviews
Vendor performance metrics
Board reporting on critical vendors

Related Compliance Areas for BaaS Platforms

Third-party risk managementBSA/AML program oversightConsumer compliance oversightPartner due diligenceRegulatory examination management

Frequently Asked Questions

Transform Third Party Risk Exam Preparation for Your BaaS Platform

See how baas platforms prepare for examinations in days, not weeks.